ECON301: History of Economic Ideas

Course Syllabus for "ECON301: History of Economic Ideas"

As a student of economics, you must study the history of economic
thought to understand why individuals, firms, and governments make
certain choices. Economists try to answer three basic questions: what to
produce, how to produce it, and for whom. The history of economic
thought represents a wide diversity of theories within the discipline,
but all economists address these three basic questions. As you learn
more about the history of economic thought, you may realize that
policies presented as great innovations today are founded upon
centuries-old writings. You will learn that without a clear sense of the
discussions and debates that took place among economists of the past,
the modern economist lacks a complete perspective. By examining the
history of economic thought, you will be able to categorize and classify
thoughts and ideas and will begin to understand how to think like an
economist. Economics is both a social science and a business subject;
accordingly, economic thinking affects everything from art to philosophy
to the wider global culture. In turn, society and trends influence the
development of economic thought. Note that many of the assigned readings
in this course are primary source materials written by the economic
theorists themselves. As you study the readings, reflect on the authors’
motivations and consider the events of the era. The readings in this
class represent many different perspectives, and no single approach is
favored.

Learning Outcomes

Upon successful completion of this course, you will be able to:

explain and analyze the development of economics as a discipline in
various ancient cultures;

trace the development of European economic thought, and analyze
concepts in historical context;

compare and contrast as well as discuss classical economic theories;
and

synthesize the elements of neoclassical and Keynesian approaches in
the modern era.

Course Requirements

In order to take this course, you must:

√ have access to a computer;

√ have continuous broadband Internet access;

√ have the ability/permission to install plug-ins or software (e.g.,
Adobe Reader or Flash);

√ have the ability to download and save files and documents to a
computer;

√ have the ability to open Microsoft files and documents (.doc,
.ppt, .xls, etc.);

Primary Resources: This course comprises a range of different free,
online materials. In general, this course is built around the original
works of the great economists who have preceded us. While we cannot
reproduce all great economists’ full works, this course presents a
diverse group of excerpts of those original works. The following
resources are most prominently used:

Requirements for Completion: You are expected to study each unit,
including the assigned readings and lectures. At the end of each unit,
there is a set of reading questions that will enable you to properly
frame the readings and lectures within the overall outcomes for the unit
and for the course. At the end of the course, you will complete a final
exam.

Note that you will only receive an official grade on your final
exam. In order to pass this course, you will need to earn a 70% or
higher on the final exam. Your score on the exam will be tabulated as
soon as you complete it. If you do not pass the exam, you may take it
again.

Time Commitment:This course should take you a total of 129
**hours** to complete. Each unit includes a time advisory that lists
the amount of time you are expected to spend on each subunit. These
should help you plan your time accordingly. It may be useful to take a
look at these time advisories, to determine how much time you have over
the next few weeks to complete each unit, and then to set goals for
yourself. For example, unit 1 should take you 11.75 hours. Perhaps you
can sit down with your calendar and decide to complete subunits 1.1 and
1.2.1 (a total of 2.75 hours) on Monday; subunit 1.2.2 (a total of 5
hours) on Tuesday and Wednesday; subunits 1.2.3 and 1.2.4 (a total of 2
hours) on Thursday; the unit 1 assessment (a total of 2 hours) on
Friday; etc.

Table of Contents: You can find the course's units at the links below.